| Log in

BSNL Among Four Suitors For Stake in Zamtel

13 January, 2010

Zambia on Wednesday pressed ahead with a process to sell a majority stake in fixed-line phone group Zamtel, despite opposition criticism, and shortlisted all four bidders for a 75 percent holding.

Zambia, which is selling the stake in Zamtel in a bid to turn the group around, shortlisted four suitors for the next round of bidding due next week.

India’s Bharat Sanchar Nigam Ltd, Angola’s Unitel, Libya’s LAP Green Networks and Russia’s Altimo all submitted bids.

The sale has been criticised by opposition politicians and trade unions, who say Zambians should hold a bigger stake in the company.

Muhabi Lungu, acting director general of the Zambian Development Agency, said opposition criticism of the proposed sale was unpatriotic and could scare off potential investors.

“Even if you disagree with the methodology I don’t think you are proving to be patriotic or nationalistic if you want to sabotage the process,” Lungu said.

“The bids submitted were compelling, and set the stage for an exciting next phase,” Lungu said.

Zamtel, whose revenue for the year to end-December was $100 million, is Zambia’s only licensed fixed-line provider of voice and data communications, and has performed poorly despite its monopoly position.


Leave Your Comment
MTNL Among Eight Zamtel Suitors

MTNL Among Eight Zamtel Suitors

Reuters 8 years ago
There are eight parties, including South Africa’s Telkom and India’s...
MTNL Eyes Stake in Zambia's Zamtel

MTNL Eyes Stake in Zambia’s Zamtel

Reuters 8 years ago
Indian state-run Mahanagar Telephone Nigam Ltd has expressed interest to buy a...
Greenko, ReNew may pick up SkyPower assets; Bain-Piramal, AION eye GTL Infra stake

Greenko, ReNew may pick up SkyPower assets; Bain-Piramal, AION eye GTL Infra stake

Keshav Sunkara 1 week ago
Toronto, Canada-based SkyPower Global S.a.r.l, which owns and develops utility...
No Comments

BSNL Among Four Suitors For Stake in Zamtel

Powered by WordPress.com VIP